• Strategic acquisition of Wakeling Automotive, comprising 16 brands at 30 dealerships
• Headquartered in Macarthur and neighbouring Peter Warren, the business generates $500m in annual turnover
• Consideration of approximately $28m to be funded from existing debt facilities
• Expected to be immediately EPS accretive after funding costs

Peter Warren Automotive Holdings Limited (ASX: PWR) has announced the acquisition of Wakeling Automotive, a large multi-franchised dealership group based in Macarthur, NSW with further operations in Wollongong, Shellharbour and Moss Vale. Wakeling Automotive represents 16 of the country's most popular brands including Hyundai, Kia, GWM, Chery, Omoda Jaecoo, Mitsubishi, Nissan, Honda, Suzuki, Volkswagen, Isuzu Ute and Mercedes-Benz. The purchase consideration of approximately $28m comprises $21.7m of goodwill plus net assets at completion and will be funded from the Group's existing debt facilities. Wakeling Automotive is a 40-year-old family business generating annual turnover of $500m with approximately 370 employees. The business is principally owned by entities associated with Mr Scott Wakeling and Mr Paul Burgess, whose senior team will join the Peter Warren family and continue to successfully manage dealership operations. The transaction is subject to standard conditions including ACCC and OEM approvals and is expected to complete in the coming months. Peter Warren CEO Andrew Doyle said the acquisition marks a continuation of the company's disciplined consolidation strategy and brings further operational and scale benefits in one of Australia's fastest-growing regions.

The acquisition is expected to be immediately EPS accretive after funding costs.